(Ottawa) Shopify reported a profit in its second quarter, after posting a loss in the same quarter last year, thanks in part to a 21% increase in revenue.
The e-commerce company reported net income of $171 million, or 13 cents per share, for its quarter ended June 30.
The result compares with a net loss of $1.31 billion, or $1.02 per share, in the same period last year, when the company recorded a $1.34 billion charge for the sale of its logistics business.
The company’s revenue was $2.05 billion in the second quarter, up from $1.69 billion in the same quarter last year.
The increase came as subscription solutions revenue totaled $563 million, up from $444 million a year ago.
Merchant solutions revenues amounted to US$1.48 billion, compared to US$1.25 billion for the corresponding quarter of the previous fiscal year.